21 January 2015 | 2 replies
I know that software/website is not like real property, but what if I had a Qualified Intermediary receive the funds and then purchase the investment property through an LLC/Corp.
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31 January 2015 | 28 replies
Should I hire a lawyer/negotiator/intermediary OR call them directly?
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12 November 2022 | 4 replies
The former owner does not have an intermediary service the note.
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2 February 2021 | 12 replies
If this is an option, it would take so much financial stress out of the equation.3) I understand that to complete the process of a 1031 exchange, I will need a "qualified intermediary" to act as an escrow agent so that I never touch the money when I sell.
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23 January 2021 | 12 replies
You will also find qualified 1031 intermediaries contact information.
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22 January 2021 | 4 replies
It involves the Qualified Intermediary acquiring and holding or "parking" legal title to your replacement property so that you have the rest of the 180 calendar day exchange period to pay for and complete the improvements that you wish to make.
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28 January 2021 | 3 replies
But you are guided by the required "qualified intermediary" whose job is to document the exchange at sale and purchase and process the movement of the funds from sale to purchase.The QI must be in place prior to the closing of the sale that starts the 1031 exchange.
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8 February 2021 | 10 replies
@Blake Johnson, A "reverse or construction" exchange exists because you cannot take title to your new property before selling your old property, and, you cannot exchange into improvements made on property you already own.So in a construction exchange your intermediary for the 1031 takes title in a special entity and holds it until you have completed your improvements and sold your old property.Reverse exchanges are pretty costly and complex. and you only have a maximum of 180 days to complete the improvements and take title to the new property.
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10 February 2021 | 5 replies
My understanding is that you need to use a qualified intermediary before closing who will hold the 1031 funds in separate escrow account.
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10 February 2021 | 3 replies
In a regular 1031 Exchange, the Purchase and Sale Agreement is assigned to the Qualified Intermediary in order to integrate the purchase of the property into the 1031 Exchange.